IMO only, but I think ADN are finding it difficult to secure funding for the full project so decided to reduce output significantly with the hope they could fund a starter plant via equity.
It doesn't make sense to me that there isn't sufficient demand for the product when we have been told for years there is huge demand.
So if they do go the equity only route, how much do they need to raise and at what price? How many shares does that make in total, we already have 3.1b? If they issue another 900m at 5c to raise $45m then the total shares on issue is 4b. SP at 10c = $400m MC for 50k production pa.
Considering dilution here is the key to seeing where the SP may be in 1-2 years.
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